Expectations Of An Prolonged Cyclical Restoration On Hyperbole As Metal Costs Resume Power: ICICI Securities


BQ Blue’s dedicated research department brings together high quality and detailed equity and economic research reports from India’s top brokers, asset managers and research agencies. These reports provide an opportunity for BloombergQuint subscribers to expand their understanding of companies, sectors, and the economy.

The cyclicality will manifest at some point, higher prices will destroy demand sooner than expected, and regional disappointment in demand will lead to the next round of steel price correction.

Until then, we will keep our ratings for Tata Steel Ltd. and Jindal Steel and Power Ltd. unchanged as steel prices around the world show strength from their already record levels.

We provide coverage of Steel Authority of India Ltd. again.

We see the current environment as controlled and without adequate risk perception.

Strong Chinese demand as well as capacity reductions contributed to another round of earnings improvements in fiscal year 22.

Click the attachment to read the full report:

ICICI Securities Metals Sector Update.pdf

Read document


This report was prepared by an external party. BloombergQuint does not vouch for the accuracy of its content, nor is it responsible in any way for it. The content of this section does not constitute investment advice. You will always need to consult an expert who will be tailored to your individual needs. The views expressed in the report are those of the authoring entity and do not represent the views of BloombergQuint.

Users are not licensed to copy, modify, or distribute the content without the permission of the original owner.